There are signs Urban Outfitters, Inc. (NASDAQ:URBN) will post an earnings beat when the lifestyle retailer hands down its second quarter fiscal 2024 results after the market close on Tuesday, August 22.
Analysts have bumped up their earnings estimates in the lead-up to its results, according to Zacks Consensus Estimate, indicating the company could outperform expectations.
Analysts expect the company to post a 39.1% increase in profit from earnings per share of $0.64 in the year-ago quarter to $0.89.
The consensus estimate increased by $0.01 in the past seven days.
Urban Outfitters’ revenue is expected to be 5.5% higher year-over-year at $1.25 billion, up from $1.18 billion.
The retailer’s 2Q performance is expected to have benefitted from technological advances, store rationalization, and merchandising improvements amid stable consumer demand.
Urban Outfitters shares traded modestly lower, down 0.4% at US$35.60 on Monday afternoon.
Contact the author at emily.jarvie@proactiveinvestors.com
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